Morningstar SRRI

Lower Risk

Higher Risk

1

2

3

4

5

6

7

Potentially Lower ReturnsPotentially Higher Returns

Source: Morningstar

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Investment Objective

The Flexible Multi-Asset Fund follows an asset allocation policy that seeks to maximize total return. The Fund invests globally in the full spectrum of permitted investments including equities, fixed income transferable securities (which may include some high yield fixed income transferable securities), units of undertakings for collective investment, cash, deposits and money market instruments. The Fund has a flexible approach to asset allocation (which includes taking indirect exposure to commodities through permitted investments, principally through derivatives on commodity indices and exchange traded funds). The Fund may invest without limitation in securities denominated in currencies other than the reference currency (Euro). The currency exposure of the Fund is flexibly managed.

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Portfolio Profile31/08/2017

Morningstar Style Box®

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Equity Style

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Fixed Income Style

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Asset Allocation %

Long

Short

Net

Stocks

55.78

2.99

52.79

Bonds

55.59

21.69

33.91

Cash

7.04

11.07

-4.03

Other

23.12

5.79

17.33

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Top Stock Regions

Region

%

United States

63.97

Eurozone

10.33

Japan

6.84

United Kingdom

4.62

Europe - ex Euro

4.02

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Top Sectors

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Stock Sector

%

Technology

18.82

Financial Services

15.94

Healthcare

14.20

Industrials

12.98

Consumer Cyclical

11.88

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Fixed Income Sector

%

Government

120.35

Corporate Bond

13.10

Non-Agency Residential Mortgage Backed

6.46

Asset Backed

5.79

Future/Forward

1.12

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Top Holdings

Name

Sector

%

IncreaseDecreaseNew since last portfolio

Euro-Schatz Sep 17 09/07/2017 2017-09-07

Not Classified

8.40

Trswap: Eltintr4 Index 2017-09-01

Not Classified

5.11

Spain(Kingdom Of) 4.5% 2018-01-31

Not Classified

4.56

Trswap: M00imv$t Index 2017-10-06

Not Classified

3.69

Trswap: Bnppbrbb Index 2017-10-31

Not Classified

3.38

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AJ Bell includes AJ Bell Holdings Limited and its wholly owned subsidiaries. AJ Bell Management Limited and AJ Bell Securities Limited are authorised and regulated by the Financial Conduct Authority. All companies are registered in England and Wales at 4 Exchange Quay, Salford Quays, Manchester M5 3EE. AJ Bell procures the provision of the Morningstar Licensed Tools on an “as is” basis and does not guarantee the performance of or accept liability for the Licensed Tools. To the maximum extent permitted by law, AJ Bell excludes liability for the Licensed Tools, including liability for any failure, interruption, delay or defect in the performance of any Licensed Tool, unless it arises as a direct result of the negligence of AJ Bell.